Diamond Council of America

Analysis

Diamond Council of America is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1997, 29 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Diamond Council of America reported income of $547k and spending of $489k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $566k to $547k (-3.3%), an average of -0.8% a year. The sharpest change came in the year to December 2020, when income dropped by 19%. Over the whole period it spent 110% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Diamond Council of America sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include 466 Works Community Development Corporation Inc ($547k), Zoar Community Association ($548k) and Birmingham Construction Industry Authority Inc ($547k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $101k (21% of expenses). Other salaries and wages came to $55k. At year end it held assets of $546k against liabilities of $142k, net assets of $404k. It reported 2 employees.